Florida Businesses Able to Defer Some Taxes During Pandemic

Florida’s Department of Revenue will offer flexibility on the deadlines of taxes due, including corporate income taxes and sales taxes, to help businesses adversely affected by the new coronavirus response efforts, Gov. Ron DeSantis announced.

Some corporate income tax payments can be deferred until the end of the fiscal year, the Republican governor said Monday at a news conference.

• “Probably doesn’t make that big of a difference for the state either way, but it may make a big difference for a company that is having problems with cash flow,” DeSantis said.
• Florida also will supplement federal Small Business Administration loans with a $50 million bridge loan program from the state, he said, to help small businesses weather the economic impacts of the Covid-19 coronavirus response.
• DeSantis said the federal government should address the question of paid leave for workers who miss work due to efforts to stop the contagion.